Givaudan Set to Acquire French Cosmetics Producer Soliance

Swiss flavours and fragrances producer Givaudan said it is in exclusive talks about acquiring French cosmetics ingredients manufacturer Soliance. With two sites in France and 77 employees, the company uses vegetables, micro-organisms and micro-algae to make ingredients for cosmetics, including self-tanning lotions and skin creams.

Soliance is currently owned by France-based Agro-Industrie Recherches et Developpements (ARD). The deal expected to close in the second quarter of this year would be Givaudan's first acquisition since 2007, when it bought flavours and fragrances business Quest from British chemical group ICI.

The French company's portfolio of active cosmetic ingredients, strong process development and research capabilities fit well into the five strategic pillars of Givaudan," said CEO Gilles Andrier.

Givaudan did not disclose a bargaining figure. It did say that Soliance's would add about 25 million Swiss francs to its revenue, based on 2013 figures. The company will fund the transaction from its cash flow.